Last I heard, it was court tomorrow

 

ST and Lies reported 3, including Heathcotes mob

 

KA said that was old news, leaving 2

 

 

Now, I can see HMRC is definitely a club issue,but the other is Sport Shield

 

If we assume KA can deal with HMRC debt - I'd have been happier if he had sorted that one already, tbf- that 'just' leaves SS and blumarble

 

If the court agrees to wind up SS, do we know what that means and also the impact on BWFC

Edited May 21, 20179 yr by Casino

Sports shield liquidated

 

anyone have a clue what that means for us? 

anyone have a clue what that means for us? 

 

BluMarble now own 37.5% of the club.

 

Thanks, Dean

anyone have a clue what that means for us?

 

 

Could be a deal been agreed to pay back the loan and that SS passed on shares to KA I think and hope this could b good news.

If (and I'm not sure if it is the case) BM do now own 37.5%, it could make it easier for Ken to sit down and do a deal for those shares, albeit at a higher price than he'd have hoped for.

Hopefully BM have no interest in the club and just want some money back.

BluMarble now own 37.5% of the club.

 

Thanks, Dean

 

 

which actually doesnt give them any power

and we still ahvent defaulted on anything so no points deductions

Does this mean they'll pay 37.5% of all the bills, like Deano didn't?

BluMarble now own 37.5% of the club.

 

Thanks, Dean

In reality, would that matter greatly?

A minority shareholder, with shares that I'd imagine aren't worth a great deal at the moment.

Just seems until a deal is agreed between ka and them not much changes. Unless we carry on in the same vein on the pitch and their value drops.

 

This could be bollocks of course

So the big question now is, will BluMarble attempt to call in the, disputed, guarantee backed by club assets?

Id imagine the administrator acting on behalf of SS will currently hold the 37.5%.... id expect Ken to get them at a steal in the coming weeks with BM looking at trying to take bwfc for the said loan the whole sorry tale has been about...

Does this mean they'll pay 37.5% of all the bills, like Deano didn't?

 

 

i suppose biggest worry is they sell their shares to somebody KA doesnt fancy

i suppose biggest worry is they sell their shares to somebody KA doesnt fancy

 

Like the trust?

i suppose biggest worry is they sell their shares to somebody KA doesnt fancy

This is probably why the EFL are involved.

Like the trust?

 

high net worth individuals

high net worth individuals

 

The exact words I was thinking of.

This is probably why the EFL are involved.

 

 

even then KA will still have control of the club

Super agent tweeted this is all going to be resolved asap.

Ken can do an Eddie and stop paying the bills. Buying a minority shareholding isn't an attractive proposition really imo.

Super agent tweeted this is all going to be resolved asap.

I'm going to retire ASAP.

 

It's a long way off, though.

Ken can do an Eddie and stop paying the bills. Buying a minority shareholding isn't an attractive proposition really imo.

 

 

agreed

 

but isnt the issue the one raised by ex mid

 

did SS not pretty much put a guaranteed value on their shares?

 

i might be misunderstanding (probably) and be completely wrong

So the big question now is, will BluMarble attempt to call in the, disputed, guarantee backed by club assets?

If their loan was with a liquidated company, then does that "guarantee" still exist?

Dunno how all this works, but there's a little story about the wife's grandad. He was a business man who was fleeced by a dodgy financial advisor/investor. Grandad took him to court and won and by default ended up owning an egg company (golden lay?) as the con man couldnt pay fully. The company was basically defunct so he just owned the name in reality. Not sure of the details by seems some similarity.

All we be revealed I suppose.

and we still ahvent defaulted on anything so no points deductions

That's what the EFL will be looking at. Seem to remember Luton and Saints are examples of linked companies being wound up and points deductions being applied?

 

I guess that will depend on the structure of the £4m the club has from the loan. It would seem odd if clubs could have a company to receive a loan, use the funds, wind it up and not have a points deduction? Would other owners not do this tactically? I know that's not what we've done but it would seem to be an advantageous work around that other clubs could try?

 

Edit: have checked the Saints one, it wasn't the club but the parent company that went in to admin. They thought they could avoid deduction but couldn't. That does seem clearer cut deduction than our case though

 

http://www.telegraph.co.uk/sport/football/teams/southampton/5090954/Southamptons-parent-company-goes-into-administration.html

Edited August 21, 20178 yr by ex_midlandwhite

If their loan was with a liquidated company, then does that "guarantee" still exist?

Dunno how all this works, but there's a little story about the wife's grandad. He was a business man who was fleeced by a dodgy financial advisor/investor. Grandad took him to court and won and by default ended up owning an egg company (golden lay?) as the con man couldnt pay fully. The company was basically defunct so he just owned the name in reality. Not sure of the details by seems some similarity.

All we be revealed I suppose.

My unqualified layman's view is that the guarantee still exists. It's very common for smaller companies to have guarantees against assets of bigger companies in the same family.

 

I think the dispute is whether the signatories of the guarantee on behalf of Burnden Leisure were valid signatories. I imagine both parties will have crawled over minutes of meetings but I wouldn't want to be Blumarbles lawyers if they have made a mistake.

Hopefully BM have no interest in the club and just want some money back.

 

Hoepfully they have £375k a month to cover their losses. 

 

DH can go fuck himself now and forever. i never forgave him for wembley and now hope he stubs his toe every day for the rest of his life and stands on lego on sundays.